Proposed electricity price increases

The Ministry said that northern provinces of Son La, Yen Bai, Thanh Hoa, Hung Yen, Hanoi and the Mekong delta province of Dong Thap have adjusted the prices of nearly 2,000 medical services on uninsured patients from May 1. Though the new hospital discharges just make impact on 12 percent of the population who are not insured patients and the consumer price index, the Ministry fretted that it will affect residents because prices of petrol and electricity are increasing also. Therefore, the Ministry proposed local authorities to re-consider new hospital discharges as well as increase information to residents that new treatment fees will just affect on uninsured patients. Moreover, state budget will be spent to support people to buy health insurance card instead of spending on medical centers. Additionally, MoH ordered departments of health and medical centers to continue improving treatment quality as per the Minister’s requirement. More importantly, because the new discharges … [Read more...] about Local authorities should reconsider new medical prices: MoH

(VEN) - In 2018, the consumer price index (CPI) rose 3.54 percent compared with 2017, below the four-percent target set by the National Assembly. This was the result of effective coordination in state management of the prices of goods and services. Petroleum prices have been managed according to market changes Petroleum and sugar The information released at a meeting held by the Domestic Market Management Team to summarize operations in 2018 showed that the CPI decreased by 0.25 percent in December compared with November thanks to lower prices of various kinds of goods, such as petroleum, pork and gas. According to Nguyen Loc An, Deputy Director of the Ministry of Industry and Trade’s Domestic Market Department, flexible price management based on effective coordination among different ministries and sectors yielded good results in 2018. Petroleum prices are an example. In October, global prices of petroleum products fluctuated, reaching a level of US$86.29 per … [Read more...] about Effective price management kept 2018 on course

Speaking at a meeting Friday on the production of EVN, the country's biggest power producer, Nguyen Anh Tuan, head of the ministry's Electricity Regulatory Authority, said his agency is developing a power supply plan for 2019, which includes four different scenarios based on the predicted growth rates of electrical load as well as the predicted amount of water received by hydropower plants. In all scenarios, the total electricity generated by coal-powered thermal power plants would increased by 116 million kWh, putting pressure on EVN to increase electricity prices. "In 2019 we can still guarantee there will be enough electricity, but during times of tension on our generators we would have to mobilize oil factories. We are still developing a plan but we would like to request consumers to save electricity," Tuan said. Furthermore, it is forecast that next year, hydropower plants' reservoirs would receive much less water and the supply from Vietnam's gas fields is also declining. Tuan … [Read more...] about Vietnam may increase electricity prices next year

It has been confirmed that the Prime Minister has initialled the contents of a draft decision proposed by the Ministry of Industry and Trade (MOIT) with a slight change in feed-in-tariff (FIT) to 8.5 US cents/kWh (onshore) and 9.8 US cents/kWh (offshore). An official decision to this effect will be announced soon. The MOIT’s proposed amendment to Decision 37/2011 would have increased the FIT for wind energy projects from the current 7.8 US cents/kWh (onshore) to 8.77 US cents/kWh (onshore) and 9.97 US cents/kWh (offshore). Under the MOIT proposal, the price amendment would apply to projects achieving a commercial operation date (COD) before January 1, 2021. This is the latest of several moves made by the government to boost the renewable energy sector and promote socio-economic development. Just last week, a proposal to extend the deadline for a key FIT incentive for solar power projects in Ninh Thuan was approved. The government issued Resolution No.115/NQ-CP that allows solar … [Read more...] about Vietnam to offer pricing stimulus for wind energy projects

Viet Nam News HÀ NỘI — The National Assembly (NA) Standing Committee postponed a vote on a proposal made by the Finance Ministry to hike the environmental protection tax yesterday, urging serious consideration of its economic impacts. Presenting the bill, Minister of Finance Đinh Tiến Dũng said that the current socio-economic situation made it necessary to adjust environmental protection duties on a number of products to better reflect the amount of pollution they caused and to fulfill Việt Nam’s commitments to environmental protection.” Dũng claimed that the tax hike would bring in VNĐ15.2 trillion (US$657 million) to the State budget, which would be used for socio-economic development purposes, including environmental protection projects. The tax hike would promote “economic and efficient use of energy and natural resources, and production and consumption of environmental-friendly commodities,” Dũng … [Read more...] about NA Standing Committee delayed voting on environmental tax hike proposal

The Ministry of Trade and Industry (MOIT) is inviting feedback from other government agencies and the general public on a draft proposal that would apply production sector power prices to the hospitality industry. Production sector power prices are significantly lower than those charged for non-production sectors like the services industry. In response, Vietnam Electricity (EVN), the nation’s power utility, has said that the losses incurred as a result of this price reduction for the hospitality industry should be compensated with a five-percent increase in prices for non-peak hour consumption by the production sector. EVN estimates that it would suffer losses of VND2.6 trillion (based on projected electricity consumption in 2018) if the MOIT’s proposal is passed. Hospitality businesses (hotels, resorts, villas, home stays, etc.) currently pay between VND1,256-VND4,061 per kilowatt hour. If they only have to pay power prices that apply to the production … [Read more...] about Lower power prices for hospitality industry need to be offset: EVN

The Ministry of Trade and Industry (MOIT) is inviting feedback from other government agencies and the general public on a draft proposal that would apply production sector power prices to the hospitality industry. Production sector power prices are significantly lower than those charged for non-production sectors like the services industry. In response, Vietnam Electricity (EVN), the nation’s power utility, has said that the losses incurred as a result of this price reduction for the hospitality industry should be compensated with a five-percent increase in prices for non-peak hour consumption by the production sector. EVN estimates that it would suffer losses of VND2.6 trillion ($112.5 million) (based on projected electricity consumption in 2018) if the MOIT’s proposal is passed. Hospitality businesses (hotels, resorts, villas, home stays, etc.) currently pay between VND1,256-VND4,061 per kilowatt hour. If they only have to pay power prices that apply to the production … [Read more...] about Lower power prices for hospitality industry needs to be offset: EVN

Vietnam’s National Coal-Mineral Industries Group said the planned increase in environmental tax would hurt the coal mining industry and increase electricity prices. Under the finance ministry’s proposal, which is pending parliamentary approval, the environmental tax for anthracite coal would increase from VND20,000 to VND30,000 per ton, while bituminous coal and lignite would have their environmental taxes increased from VND10,000 to VND15,000 per ton. The proposal, which also covers petroleum and diesel, is intended to encourage the use of environmentally friendly fuels, energy efficiency and reduce greenhouse gas emissions. The coal tax would add VND800 billion ($35.7 million) each year to the state budget, according to government calculations. However, Nguyen Hoang Trung, vice director of the National Coal-Mineral Industries Group, said the increased tax on coal would not only impede the coal mining industry’s development, but also increase the price of … [Read more...] about Proposed environmental tax on coal would inflate electricity price: expert

Power price hike still needs discussionBy Ngoc Lan - The Saigon Times DailyHCMC – Minister of Industry and Trade Vu Huy Hoang affirmed on Tuesday that next year’s electricity price would be hiked, but the rise would only be decided in the fourth quarter of this year after prudent calculations.“The current power price based on 2005’s data is no longer suitable to the current situation. Therefore, we will submit the new price to the Government in the last quarter,” Hoang said.He said the price increase should neither be too steep to cause a surge in the input costs of the economy, nor too slight to ensure return for EVN. However, he refused to disclose adjusting plans and the time to apply the new price.The Electricity of Vietnam (EVN) has recently proposed the Ministry to raise the starting electricity price by 30% to VND1,017, VND1,062, and VND1,125 in the next three years respectively. Power price in Vietnam is charged on a progressive basis, with higher … [Read more...] about Power price hike still needs discussion

Power price rise of VND1,304 effective on TuesdayBy Lan Nhi - The Saigon Times DailyHCMC – Vietnam Electricity Group (EVN) has announced to raise the power price to an average VND1,304 from VND1,242, excluding value-added tax, from Tuesday.The power price for the first 50 kWh of poor households and users using less than 100 kWh will be kept unchanged, according to EVN.Previously, EVN presented a proposal of increasing power price by 5% from the current price and got permission from the Ministry of Industry and Trade.The power price rose by 15.28% in March. According to the Prime Minister’s decision issued on April 14, the period between two power price adjustments must be at least three months instead of one year like currently. Furthermore, any power price hike of no more than 5% requires no approval from the Government if the input costs rise accordingly.EVN explained in recent meetings with relevant agencies that the group was in need of capital for its projects which … [Read more...] about Power price rise of VND1,304 effective on Tuesday